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FP shareholders extend administrator's authorisation for listing FP on Warsaw Stock Exchange
Proprietatea (Ownership) Fund (FP) shareholders on Thursday approved extending by year-end an authorisation given administrator Franklin Templeton for laying the groundwork for the Fund's secondary listing on the Warsaw Stock Exchange, FP manager Grzegorz Konieczny told a news conference.
The FP shareholders in last April approved the Fund's listing on the Warsaw stock market. In last November, they extended till this June 30 an authorisation given administrator Franklin Templeton for laying the groundwork for the Fund's secondary listing on the Warsaw Stock Exchange, given that the original mandate closed at end-2012.
The preparatory moves have been stalled due to technical issues relating the existence of a direct or indirect connection between the Central Depositors in Romania and Poland, as the companies providing the settlement operations.
The Fund was set up in order to pay damages to the persons who had their property seized by the former Communist rule.
Proprietatea Fund's shareholders vote Mark Gitenstein, Sorin Mindrutescu on Representatives' Committee
The shareholders of the Proprietatea Fund (FP) have voted former U.S. Ambassador in Bucharest, Mark Gitenstein, and the CEO of Oracle Co., Sorin-Mihai Mindrutescu, on the Representatives' Committee.
The chairman of the FP's Representatives' Committee, Sorin-Mihai Mindrutescu, is running for a second term, according to the information posted on the website of the FP.
Mindrutescu, former chairman of the Representatives' Committee, is the CEO of Oracle and president of the American Chamber of Commerce in Romania (AmCham), and his candidacy for another term on the Representatives' Committee of the FP was backed by Corin Trandafir, shareholder and attorney of heirs Malaxa and Ausnit, the largest individual shareholders of the FP.
The FP Representatives' Committee is made up of five members. The committee currently also includes Steven van Groningen, Piotr Rymaszewski and Julian Healy. Gitenstein has been proposed for this position by investment fund Emerging Markets Country Fund, a FP's shareholder.
The Representatives' Committee supervises the activity of the FP's manager, the American company Franklin Templeton, whose mandate expires on September 29, 2014.